Follow us on

India considering currency swaps with other countries-TV

Source : REUTERS
Last Updated: Tue, Aug 27, 2013 10:09 hrs
An employee counts Indian currency notes at a cash counter inside a bank in Kolkata

India is considering currency swaps with other countries, TV channels Bloomberg TV and CNBC-TV 18 reported on Tuesday, citing senior government officials.

Bloomberg TV said India would set up a task force to look into setting up currency swaps, citing Commerce Minister Anand Sharma. CNBC-TV 18 reported India was considering the swaps with trading partners, citing Trade Secretary S. R. Rao.

The rupee fell to a record low of 66.075 to the dollar earlier on Tuesday, while shares slumped after parliament's approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about the government's resolve to control spending ahead of elections due next year.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance